Texas

Amesbury Refinances 452-Unit Multifamily Portfolio in East Texas

by Taylor Williams January 29, 2019

KILGORE AND NACOGDOCHES, TEXAS — Amesbury Cos., a Louisiana-based development and investment firm, has refinanced a portfolio of three multifamily properties totaling 452 units in East Texas. The properties include the 124-unit Glen Hollow Apartments in Kilgore; and the 120-unit Stone Creek Apartments and the 208-unit Sunridge Apartments in Nacogdoches. All properties feature pools and community rooms. New York-based Greystone provided the FHA and Fannie Mae loans, which total approximately $19 million, to Amesbury.

January 29, 2019

Loans Multifamily Texas

NXT Capital Provides $28M Acquisition Loan for Apartment Community in Metro Austin

by Taylor Williams January 29, 2019

KYLE, TEXAS — Chicago-based NXT Capital has provided a $28 million loan for the acquisition of a 264-unit apartment community in Kyle, located about 20 miles southwest of Austin. Amenities at the undisclosed property include a pool, fitness center, outdoor gazebo with a TV and a business center. Casey Knust of CBRE placed the loan with NXT Capital on behalf of the undisclosed borrower.

January 29, 2019

Loans Multifamily Seniors Housing Texas

Hunt Capital Arranges Acquisition Loan for 151-Unit Seniors Housing Property in Houston

by Taylor Williams January 29, 2019

HOUSTON — Hunt Capital Partners has arranged a $7.2 million loan for the acquisition and rehabilitation of Anna Dupree Terrace, a 151-unit seniors housing community in Houston. The development serves elderly households whose tenants are 62 years or older or who have disabilities. Upon completion of the renovation, which is scheduled for May 2020, the property will feature amenities such as a computer lab, beauty salon and outdoor picnic areas. The borrower was not disclosed.

January 29, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 19,865 SF Office Lease in Houston

by Taylor Williams January 29, 2019

HOUSTON — NAI Partners has negotiated a 19,865-square-foot office lease at 1360 Post Oak Blvd. in Houston for U.S. Well Services, a provider of hydraulic fracturing solutions. Dan Boyles and Liz Westcott-Brown of NAI Partners represented U.S. Well Services in the lease negotiations. Morgan Relyea Colt of Cushman & Wakefield represented the landlord.

January 29, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 10,500 SF Retail Property in Metro Houston

by Taylor Williams January 29, 2019

KATY, TEXAS — Marcus & Millichap has arranged the sale of a 10,500-square-foot retail property net-leased to Walgreens in Katy, a western suburb of Houston. James Bell of Marcus & Millichap represented the buyer, a limited liability company that acquired the property via a 1031 exchange. Other terms of sale were not disclosed.

January 29, 2019

Leasing Activity Office Texas

Salesforce Signs Lease at 420,000 SF Office Tower in Dallas

by Taylor Williams January 28, 2019

DALLAS — San Francisco-based software company Salesforce has signed a lease at The Union, a mixed-use property located at 2300 N. Field St. in Dallas that includes a 420,000-square-foot office tower and a 31-story residential building. The square footage of space was not disclosed, but Salesforce has confirmed it to be at least 100,000 square feet. According to brokers, the deal was the largest office lease executed in Uptown Dallas when it closed in late 2018. Clay Vaughn and Preston Lynn of CBRE represented Salesforce in the lease negotiations. John Brownlee, Gini Rounsaville and Brooke Oliver of Peloton Commercial Real Estate represented the landlord. The lease brings The Union to 90 percent occupancy. The office component of The Union opened in October 2018. The entire development is expected to be complete by spring 2019.

January 28, 2019

Acquisitions Retail Texas

SRS Arranges Sale of 171,318 SF Shopping Center in San Antonio

by Taylor Williams January 28, 2019

SAN ANTONIO — SRS Real Estate Partners has arranged the sale of Military Crossing, a 171,318-square-foot shopping center in San Antonio. Anchored by Academy Sports + Outdoors, the center was 99 percent occupied at the time of sale to tenants such as BioLife Plasma Services, Harbor Freight Tools, Chase and Firehouse Subs. LA Fitness is also an anchor tenant at the center, but that property was not included in the sale. Webb Sellers, Kyle Stonis, Matthew Mousavi and Patrick Luther of SRS represented the seller, Santikos Real Estate, in the transaction. Eric Lehman of Lehman Real Estate represented the buyer, Nooner Holdings.

January 28, 2019

Acquisitions Multifamily Texas

TIC2 Holding Acquires 70-Unit Apartment Community in Arlington

by Taylor Williams January 28, 2019

ARLINGTON, TEXAS — TIC2 Holding LLC has acquired Tuscany Square Apartments, a 70-unit multifamily community in Arlington. The property features one- and two-bedroom units and amenities such as a pool, playground and outdoor grilling area. Dougherty Mortgage provided an undisclosed amount of Fannie Mae acquisition financing for the deal through a partnership with Old Capital Lending. The loan carried a 12-year term and a 30-year amortization schedule.

January 28, 2019

Acquisitions Industrial Texas

G-Tech Buys 32,606 SF Industrial Property in Brookshire, Texas

by Taylor Williams January 28, 2019

BROOKSHIRE, TEXAS — G-Tech Development LLC has acquired a 32,606-square-foot industrial property located at 35002 Cooper Road in Brookshire, about 40 miles west of Houston. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller, Koomey Building LLC, in the transaction. Glen Dickerson of NewQuest Properties represented the buyer.

January 28, 2019

Acquisitions Multifamily Oklahoma Texas

CBRE Negotiates Sale of 32-Unit Apartment Complex in Oklahoma City

by Taylor Williams January 28, 2019

OKLAHOMA CITY — CBRE has negotiated the sale of a Flamingo Apartments, a 32-unit multifamily complex in Oklahoma City. Formerly known as University Manor, the property was built in 1961 and renovated in 2017. CBRE represented the seller, an affiliate of Oklahoma City-based boutique real estate development and design company, Nostalgia Shoppe. The buyer, Flamingo Holdings LLC, acquired he asset through a Freddie Mac Small Balance Loan.

January 28, 2019

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